Our pension report card and interactive map grade state-administered retirement plans on their financing; how much retirement security they provide to short- and long-term employees; and the workforce incentives they create for younger, older, and mid-career employees.

Covering 14 million state and local government employees, public pension plans typically provide lifetime retirement benefits based on years of service and the salary earned near the end of a career. These pensions provide meaningful retirement security to employees covered by a plan for a full career, but offer few benefits to shorter-term employees, a drawback that is becoming increasingly problematic as people change jobs more frequently.

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Attorney General Richard Blumenthal had egg on his face when his annual disclosure statements to the State Ethics Commission showed that two minor children of Mr. Blumenthal had thousands of dollars worth of tobacco stocks in their names in family trust accounts for several years. The accounts are managed by the attorney general’s father, Martin […]

Why do public fiduciaries think they should impose their political agenda on other people’s retirement benefits? Is not the standard of care to manage public retirement funds with the highest return at the lowest reasonable risk? With more than 50 percent of all state pension funds significantly underfunded and at least five states, including my […]

But the governor’s move has spawned concerns that a green energy litmus test over investment decisions could end up limiting the fund’s growth should Cuomo’s prognostications regarding energy sector stocks prove to be flawed. “The comptroller needs to stick to his guns and understand that his fiduciary responsibility is to the beneficiaries” of the fund, […]